PG&E Fire Victims Will Soon Receive Final Compensation. They Won't Be Made Whole.

Victims of California wildfires caused by utility company PG&E are set to receive final compensation from a trust funded by the company. However, the $13.5 billion settlement will not cover all of the victims' claims, which are expected to exceed $19 billion. The trust, created in 2020, has sold its last block of shares, finalizing the amount of money available for distribution. Victims have so far received about 60% of their claims, and it is expected that the final percentage will be lower than initially anticipated. Some victims are concerned about tying their compensation to PG&E's share price, which has been slow to rebound after bankruptcy. Legislation exempting fire victims from federal income tax on their settlement payments is pending in Congress. Library patrons researching this topic may find this article useful for understanding the compensation process for victims of the California wildfires caused by PG&E. [Extracted from the article]